We recently compiled a list of the 14 AI News That Broke The Internet This Week. In this article, we are going to take a look at where Alphabet Inc. (NASDAQ:GOOG) stands against the other AI stocks that broke the Internet this week.
The World Trade Organization (WTO) recently released a report that examines how artificial intelligence may shape the future of international trade. The report projects global real trade growth could rise by nearly 14 percentage points by 2040 under optimistic scenarios of universal AI adoption, but only 7 percentage points under uneven adoption. Digitally delivered services could grow 18 percentage points in the best-case scenario. While high-income economies may gain the most productivity, lower-income economies stand to reduce trade costs more effectively, it contends.
Read more about these developments by accessing 10 Best AI Data Center Stocks and 10 Buzzing AI Stocks According to Goldman Sachs.
However, the report also warns of growing AI divides, data governance challenges, and intellectual property concerns. It advocates for global coordination through the WTO to address these risks and ensure AI fosters inclusive, equitable trade. Based on the conclusions drawn from the report, WTO underlines that AI has the potential to reduce trade costs, reshape service trade, increase AI-related goods and services trade, and redefine comparative advantages across economies.
Read more about these developments by accessing 30 Most Important AI Stocks According to BlackRock and Beyond the Tech Giants: 35 Non-Tech AI Opportunities.
For this article, we selected AI stocks by combing through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
A laptop and phone open to Google’s services in an everyday setting.
Alphabet Inc. (NASDAQ:GOOG)
Number of Hedge Fund Holders: 160
Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. On November 27, as the smog season engulfed the subcontinent, Google announced that it would be launching Air View+, an artificial intelligence-based solution that can help the government and the people with useful hyperlocal air quality information. According to the tech giant, Air View+ is powered by Google AI and works in collaboration with local climate tech firms. The ecosystem can provide valuable air quality insights to government agencies responsible for environmental monitoring and urban planning, said Google in a blog post.
Overall GOOG ranks 5th on our list of the AI stocks that broke the Internet this week. While we acknowledge the potential of GOOG as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than GOOG but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.